Buying a home can get quite detailed. Here are the steps to take to ensure you’re prepared for the exciting road ahead.
Choose a Texas REALTOR®
Why? A Texas REALTOR® will help you with all the following steps and more. As a Texas Realtor, I will save you time and money by researching properties based on your criteria, helping you secure the best mortgage rates, counseling you on the offer amount and terms most favorable to you, and negotiating on your behalf.
1. Decide where, what and when
2. financing/ cash?
Unless you have a cash, you need to consider financing. Consider these factors and contact with lender to learn how much you can afford first:
3. Offer
You’vealready know where you will buy your dream house and how much you can afford. Now you and I will work together find a house and make an offer. I will be in you help/guide in this part of the process that involves many steps, including:
4. Secure financing
Unless you’re paying cash for the home, you’ll need get a loan. Be carefull when you are choosing your loan types and options such as points, total lender fees, term of the loan, and penalties for early payment. The lender will most likely require an appraisal to verify that the home is worth the cost of the loan as well as a physical survey in order to give you loan. Sometimes repairs may be required. Insurance must be purchased. All these conditions and others must be fullfilled before a transaction can close.
5. Closing
After weeks or even months of searching, pending periods and waiting for closing date, you will close the transaction, usually at the title company's office. The title agent will ask you to sign many, many documents and will explain each one. You’ll present a cashier's check to the title agent, sign another document that itemizes closing costs (the lender will have given you an estimate in advance), and pay your share of the closing costs. Finally, you will receive a deed, transferring ownership rights to you!